NAMA, Wallace & the Robinsons


No one was attacking Wallace until you started to eulogise him


Keep your pants on. You’re defending him vigorously, just wondering if you know the guy.


You’ve got to hand it to Wallace.

Anyone else who paid over the odds for development land at the height of one of the greatest bubbles in history would be labled as a greedy bastard speculator. Or used company money to fund a personal vanity project with one’s name all over it they might think you had an ego. Or if you did construction work for the American Embassy…

Obviously you can fool a lot of people for a lot of time.


Next thing you know, Derek Quinlan (running as PBP) is odds on favourite to take Sean Dunne’s (SF seat) in North Wicklow :slight_smile:

Least we forget Wallace was a developer who made his money by selling overpriced property. But hey, he found his socialist heart in the end.


Do I remember correctly, was it Wallace who was against the leaders allowance for independent TDs in the Dail, and who then claimed the 40,000 odd Euro P.A. so as to be able to pay off some tax owed??. Have no desire to besmirch anyone’s good name but seem to remember this being the case. If so it’s a real case of cute hoorism ! If not apologies…??


It’ll be funny to revisit this thread in a few years time to see how fucking pathetic the standard of contribution on this topic was.


Don’t be so hard on yourself.


I’ve contributed updates and links. You’ve posted attacks on Mick Wallace and persistent attempts to better BoBo the Clown.

Anyway, whatever. Plenty of places to discuss this elsewhere.

#69 … 95010.html

Mick Wallace tops up pay with €41,000 Dail perk … s-2014.doc


Coles, you’re opinion of Wallace genuinely perplexes me.

Yes, he came out with a type of exposé on NAMA and the North, but he’s also a self-proclaimed tax-evader who had no issues giving two fingers to the rest of society when it suited him.

I don’t believe his hatred of NAMA stems from the same source as your own.

The enemy of your enemy is not necessarily your friend.


Here’s the Mick Wallace thread. Why don’t you all move over to it and we’ll keep this one for discussing his revelations about Peter Robinson, NAMA, Cerberus and the shadiest disposal of property assets in the history of the State. ffs.


Ah Coles, come off it. There’s been nothing of any importance produced to date. It’s still largely a raft of allegations from an ex builder, an online blogger and an insolvent bitter bookie.

Leave the politics out of it and maybe you’d get more traction.


Silly me, I thought that the fact that this thread had Wallace’s name in the title meant it was for discussing him and his allegations.

Anyway, the latest allegations about the NI portfolio appear to be untrue.

However, Garath Graham, the NI guy suing Cerebrus has briefed the FBI and DoJ about the shenanigans, which means someone competent may actually investigate them. We know they won’t be properly investigated here


It’s interesting to read Michael Noonan’s statement at the time of the sale in April 2014.

Noonan was aware of the complaints and allegations. He also (very deliberately) chose to exclude the Deputy First Minister from discussions between the Department of Finance and the Northern Ireland Executive. What the fuck was Noonan doing and who was he doing it for?

Noonan role in North’s Nama portfolio ‘raises questions’, The Irish Times.


@Andy, yeah I know your line. ‘Nothing to see here’.


Get over yourself coles.

Not everyone cares about the politics of it. So far there has been a raft of unsupported allegations made.



What’s the source of this? It’s another statememt with no supporting facts.

Furthermore, this is a portfolio so I’m sure cerberus will realise more than 50p in the £ on some assets and less on others.

The comment re due diligence fees makes zero sense.

Is Wallace saying something is wrong with NAMA only incurring transaction costs of $1.8mm but cerberus incurred transaction costs of $28mm. If that’s the case then that’s a FAIL - doesn’t know what he’s talking about. Why would nama have DD costs for assets it already owns? If you are selling your house, would you get a surveyor report?


NAMA loses control of its own narrative, - David Murphy RTE.


What’s the problem? This is NAMA doing exactly what it was set up to do. 8-